Anyone currently looking for a Ferrari please chime in...

You'll probably have better luck with the thread you posted in the Ferrari section.

http://www.ferrarichat.com/forum/showthread.php?t=161860

 

348 or 355? Typo
It's a buyer's market right now on the 348. Decide whether you want a "garage queen" or you actually will drive and enjoy your Ferrari. There are somewhere around 40 348's currently for sale. Watch for cars claiming < 20K mi. Maybe .250 of them are true miles.

 

How many times are you going to post this?

 

Buy a well sorted car. Make sure everything works as it should. Service means a lot. One last think to consider. Regardless of the purchase price, keep $5 to 10K in the bank as a slush fund for your car. You never know with these cars.

 

Plan on having $5K - $20K over and above the purchase price in the bank for "surprises" Actual dollar figure will vary depending on model and condition purchased

 

Annual service is just fluids and a check over / adjustments really - cheapish, it only gets expensive if you need other bits that come in the little yellow boxes from Maranello - those boxes are SO expensive... - my annual this year was $1000 all in including new rear brake flexi pipes, MOT (UK road worthy check) and taxes (17.5%).

The $10K slush fund is to sort any issues after purchase that may have been missed / covered up.

 

It's pretty hard for us to give any abvice, not knowing what you're budgeting for your purchase.

Remember to factor in maitenance and repairs, which don't come cheap.

 

Not at all. Prior to 1998, I would worry about it vis-a-vis maintenance costs. After that, they are very relable. Like houses, don't forget maintenance, and don't go up to the absolute limit

 

Figure out what model Ferrari you can afford, then go one or two models lower.

 

Not trying to personal but how much is your budget and are you looking for a V8 or V12?

 

Kind of a broad question...

I agree with Sparta's advice about the cash reserve.

It took about 10 months to find the one I ended up buying. It was the best of the ones I saw (I wanted black/black metallic, which limited the field), but I've still probably spent $10K taking it from 'very nice' to concours-ready.

If you spend some time here, you'll learn the plusses and minuses of the different models. You can start by figuring whether you want a sports car (Boxer/3x8/TR/F355/360/Stradale/F430) or more of a grand tourer (Mondial/456/550/575/599/612). Then look at the resale prices.

Once you know which one or two models you're considering, look at as many as you can in person. Go to Ferrari events like FCA or FOC meets. That way you start to learn why a 'scruffy' TR, for example, might go for $50K while a really nice one can bring $80K. Also the owners will probably be glad to tell you about why they bought their car, because they probably went through the same process you did.

EDIT: Just saw your post on the 348s. You can surf the 348/355 forum here a bit, but in general the later 348s are more desired -- more debugged than the early ones (good article in the June issue of Forza magazine) -- so they cost more.

My original field of Ferraris was 308-328-348-F355. The older ones, and newer ones were beyond my car cash budget at the time and I have a "no borrowing" rule when it comes to weekend toy cars. (And the older ones have gone up even more...) I set aside my budget, read a lot, looked at a lot, talked to Ferrari techs and dealers, and ultimately my clear, money-no-object, hands-down favorite of the group was the 328.

I'd recommend figuring out what you really want and going for that, rather than feeling compelled to buy the newest model simply because it's new and you have $X to use up. If a 355 is your dream car, save up a bunch of money for servicing and buy one when you're ready. Prices are still settling a bit on those, IMO, but they are beautiful cars and sound amazing.

 

There are a couple of stand-up fchatters selling great 348s on ferrariads. I would buy a well sorted car from an fchatter or an established dealer over a Joe Nobody or a shady auction car from a small time dealer.

Best of luck with your search.

 

focus on a specific model, get to know it as much as possible, and drive as many as possible before purchase. you will know when the times comes which one is the "one."

 

Why not wait a little and get a 355. They are just great cars and they sound so good too. I would want another since I enjoyed my '98 so much. It was a great car. The 430 is out of your range but I feel the same about it. I had a convertible and the size is just great. I may yet buy one.

 

Good to hear from an expert.......

 

doesn't take an expert to impart this advice. just one who has bought a used car before. but thanks for compliment.

 

As someone who JUST BOUGHT MY FIRST EVER F-CAR and went through the same thing, my suggestion is drive the different models and see what you like BEFORE buying one. You would hate to buy a car that did not "suit" you in the long run. Not often, but we have had some FChatters complain of buyers remorse.

I knew my budget was in the lower range, 3x8 and variants, but I did consider other cars, including the 348 and a BEAUTIFUL 355 that was way out of my budget.

I wrote a detailed description of my experiences RE: the 308, 328 and 308GT4 on an older post, about 1 year ago.

First, I would suggest driving as many as possible as previously stated.

Second, I'd look at your budget, see what you CAN afford reasonably. This includes both the initial cost AND any followup work. Many FCars will be advertised without the needed services. While you can argue one way or another about when to do the majors, you'd better know the risks either way. Depending on the model, this can be from $2000 to $10000.

Third (as stated here by someone else) buy the BEST model that you can afford of any lineup. Ebay can have some deals, but in general, the consensus here is to shy away from ebay unless you know the owner or know the car (or know someone who knows, such as FChat).

Fourth, get a PPI on any car you are serious about. I actually did not do a PPI, but someone else who passed on the car did, and I was pretty sure my car was a good example. However, its a risk.

Fifth, be prepared for surprises. My car had the blinkers go out and is having a bit of a cooling issue. All of the older cars will have SOME kind of issues.

Sixth, KNOW the differences between an Acura (Toyota, Honda, you choose) and a FERRARI! These are not the same kind of cars as a 2007 model run-around car. My 308 will get out accelerated by many new cars, but then again, its a freaking ferrari, that will put the smile on your face (I had a TURBO DIESEL TRUCK try to race me this weekend.)

Seventh, do your research. Read the different sections of FChat to get an idea of what the nuances of each car are. And ASK QUESTIONS... many people will tell you to use search, try that of course, but don't feel bad about asking the same thing someone else has, you never know what the responses will be now.

Lastly, TAKE YOUR TIME. I almost bought a GT4 that would have not been a bad car, but I would have missed the car I have now, which is MUCH MORE of what I wanted. There are PLENTY of cars out there. I missed a few deals, but I'm glad I ended up with the one I have now.

All that said, its a wonderful experience. I'm a new owner, about 4 weeks now (gosh, its been that long?). The 308 series suited me best, I love the feel of the car. Drive as many as you can, then decide.

James in Denver

 

This may end up a little choppy, because I merged the 5 different threads in 5 different forums into one, here. Since it looks like a 348-355 is the car of choice, this is more or less where it belongs.

Ok, back to dispensing advice.

DM